Banks, Financial Services, Investments, Latvia, Legislation, USA

Straujuma told the press representatives yesterday evening that the public will be precisely informed about the bank's sale process, as well as the amount and rules of the deal. However, Straujuma will not be able to offer full information until the agreement is signed.

"It is possible that we will accelerate the signing of the agreement so that the public could be able to receive precise information about the sale process," Straujuma said, adding that the government would like to sign the agreement already this week in order to "prevent any kind of manipulations."

Greens and Farmers' Union was the one to urge Straujuma to inform the public.

Straujuma also reminded that leaders of the European Bank for Reconstruction and Development will arrive in Latvia on Tuesday, as the EBRD owns 25% of Citadele shares and is also involved in the sale process.

When asked about media reports that Unity's Valdis Dombrovskis and Dzintars Zakis, as well as Defense Minister Raimonds Vejonis (Greens and Farmers' Union) spent their holidays in Georgia together with the official representative of the bank's buyer, Straujuma said: "It would be odd to go to Georgia to discuss the deal." She also stressed that neither Zakis, nor Dombrovskis have talked to her about the specific investor.

Straujuma stressed that it is important for Latvia to have global-scale investors, as others would later follow. Furthermore, selling Citadele is unavoidable. Straujuma said that she felt no resistance from Unity's side, at the same time criticizing the opposition's activities as they could possibly "scare off" the investors.